HDFC Bank has announced a revision in its minimum balance rules, requiring customers in urban and semi-urban areas to maintain at least ₹25,000 in their accounts. For rural areas, the minimum balance requirement has been set at ₹10,000.
HDFC Bank Raises Minimum Balance Requirement to ₹25,000 in Urban Areas
According to the bank, the revised policy will not apply to salary accounts and Basic Savings Bank Deposit Accounts (BSBDA), ensuring that low-income and zero-balance account holders remain unaffected.
The bank clarified that the new rules will not apply to salary accounts and Basic Savings Bank Deposit Accounts (BSBDA). The move is expected to impact a large segment of customers, especially in urban centres, where maintaining higher balances will now be mandatory to avoid penalties.
The change is part of HDFC Bank’s periodic review of account maintenance guidelines
Industry experts say the change comes amid rising operational costs for banks, though it may also prompt some customers to explore zero-balance account options.
The change is part of HDFC Bank’s periodic review of account maintenance guidelines and is expected to take effect soon. Failure to maintain the stipulated balance could result in penalty charges, the bank has cautioned.
Financial analysts note that while such measures help banks recover operational costs and maintain service quality, they could place additional financial pressure on regular account holders, especially in times of rising living expenses. Customers have been advised to review their account types and consider shifting to accounts with lower balance requirements if needed.
HDFC Bank, one of India’s largest private lenders, joins other banks that have tightened minimum balance norms in recent years, reflecting a broader trend in the banking sector.
